Nigerian stocks rally as All-share index hits 131,585.6, market cap surges past N83trn

The Nigerian equities market sustained its bullish momentum on Friday, July 18, 2025, with the All-Share Index (ASI) closing at 131,585.6 points, marking a 1.00% or 1,301.8-point gain from the previous session’s 130,283.8 points. The rally signals renewed investor confidence and optimism, pushing the market to new milestones.

The highlight of the trading session was the historic crossing of the N83 trillion market capitalization threshold, as it settled at N83.2 trillion. This milestone was buoyed by strong interest in blue-chip and mid-tier stocks, alongside a surge in trading activity.

Market participation skyrocketed, with daily trading volume reaching 3.3 billion shares, a near-threefold increase from the 1.19 billion shares traded on Thursday. These transactions were executed across 28,593 deals, pointing to broad-based activity and heightened liquidity in the market.

Market Leaders and Laggards

Top gainers included:

LEARNAFRCA: +10.00% to N6.27

NCR: +10.00% to N6.60

UPDC: +10.00% to N4.84

BUA CEMENT: +9.98% to N123.40

ELLAHLAKES: +9.98% to N10.80

On the losers’ side, the most significant declines came from:

REDSTAREX: -9.97% to N12.92

UNIONDICON: -9.62% to N10.80

ACADEMY: -6.67% to N7.00

STERLINGNG: -4.34% to N6.17

FIRSTHOLDCO: -4.10% to N33.95

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FCMB led the volume chart with 1.3 billion shares traded, reflecting robust institutional interest.

FIDELITYBK followed closely with 1.1 billion shares, while ACCESSCORP, CHAMS, and ZENITHBANK recorded 113.8 million, 92.6 million, and 50.7 million shares respectively.

In terms of trading value:

FIDELITYBK topped the chart with N23 billion in traded value.

FCMB followed with N12.6 billion, while ZENITHBANK, GTCO, and ACCESSCORP posted N3.6 billion, N3.2 billion, and N3.06 billion respectively.

SWOOT & FUGAZ Performance

Among SWOOTs (Stocks Worth Over One Trillion Naira):

BUA CEMENT advanced 9.98%

DANGOTE CEMENT climbed 4.58%

INTERNATIONAL BREWERIES gained 3.36%

NIGERIAN BREWERIES dipped 1.33%, the only major loser in the category.

Within the FUGAZ banking group:

GTCO gained 2.15%

UBA inched up by 0.11%

On the downside, FIRSTHOLDCO lost 4.10%, ZENITHBANK dropped 4.00%, and ACCESSCORP fell by 2.19%.

With a year-to-date gain of 27.8%, the Nigerian bourse continues to outperform expectations. Analysts believe that if current momentum persists and investors maintain their bullish outlook, the ASI could soon challenge the 135,000-point level.

However, they caution that sustained rallies may prompt profit-taking, especially if valuations begin to appear overstretched.

The performance of bellwether stocks and developments in macroeconomic policy—particularly around inflation, interest rates, and currency stability—are expected to play a critical role in shaping the market’s direction in the coming weeks.